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Reviews for Q2--South-Florida-Real-Estate-Market-Report
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Date Created: 12/22/15
Lower short sales and high median sale prices in the second quarter of 2014 reflect a strengthening condo/townhome real estate market in the Miami Beach condos for Miami-Dade region. sale are especially appealing to international buyers, who tend to spend only part of the year in the States. We’ll take a look at the numbers from Q1 and Q2 2014, which reflect a booming market. Active Listings • Q2 2013: 46,519 • Q2 2014: 52,745 There was a 13.4% increase in active listings from the second quarter of 2013 to the second quarter of 2014. Median Sale Price Median sale price saw a 10.1% increase from • Q2 2013: $128,950 Q2 2013 to Q2 2014. • Q2 2014: $142,000 Average Sale Price Average sale price saw a 9.8% increase from • Q2 2013: $216,291 Q2 2013 to Q2 2014. • Q2 2014: $237,529 Traditional Closed Sales • Q2 2013: 24,212 • Q2 2014: 24,466 There was a slight increase of 1% in traditional closed sales between Q2 2013 and Q2 2014. Short Sales Short sales were down 59.8% in Q2 2014, while median short sale price increased by 20.3% from $86,000 in Q2 of 2013 to $103,450 in Q2 of 2014. International buyers are increasingly important to existing home sales markets in Florida. Consider that 63% of respondents to a 2013 survey of REALTORS® reported having international clients, compared with a national average of just 27%. Canadians lead the international market, making up 30% of total international sales in Florida. Venezuelans follow at 8%, followed by Brazil at 7% and the U.K. at 6%. International buyers tend to buy with cash. About 84% of REALTORS® reported all cash sales among A survey in 2013 of Florida realtors found international buyers, that the most common international according to NAR’s 2012 Profile of Home purchasers of real estate for Miami-Miami Buyers and Sellers. Beach properties were from: • Venezuela (23%) • Argentina (11%) • Brazil (10%) • Peru (9%) • Canada (7%) • Colombia (7%) The top 10 areas where international buyers purchased real estate in 2013 were: 1. Miami-Miami Beach 2. Orlando-Kissimmee 3. Fort Lauderdale 4. Cape Coral-Fort Myers 5. Naples-Marco Island 6. Bradenton-Sarasota-Venice 7. Tampa-St. Petersburg-Clearwater 8. Palm Beach 9. Port St. Lucie 10. Jacksonville-St. Augustine Eighty percent of respondents to a 2013 survey of Florida REALTORS® reported that less expensive properties in the U.S. than comparable properties in their home countries attract international buyers to Florida. Resort and suburban areas are hot markets for international buyers. Nearly half of international buyers chose the suburbs, according to the 2014 Profile of International Home Buying Activity Report. In addition to affordable properties in the U.S., favorable exchange rates, economic stability, and rising affluence abroad are all driving international real estate sales in Florida. About Us Since 2011 Decorus Realty has been meeting the high demand for exceptional real estate expertise and service in South Florida. Decorus offers a multitude of services, including: • Luxury Real Estate • Commercial Investments • Property Management • Legal Services • Asset Management • Financial & Concierge Services Visit decorusrealty.com for more information.
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